What is our Supplier Integrity Check Program (SICP)?

After a supplier profile was upgraded and becomes a Bronze, Silver or Gold SICP member, NextPro Specialist collects business registration information to confirm their legal entity is registered and active. Registration is confirmed through a web site of Business Registration Department of each country of supplier and a supplemental legal certificate from the supplier.

Information we verify includes the following:

  • Business entity name
  • Status (active/inactive)
  • Jurisdiction of formation
  • ID number
  • Date of business formation

Besides, depend on SICP profile to be bought by Supplier, there will be more checks to assure for supplier credit including: Bank Account, Sanction Check, Certificate Management, Due Diligence and Financial Risks.

What are different SICP levels and its benefits?

We provide three levels of SICP:

  • Bronze: basis layer of trust from Buyer, legal status and bank account to be checked.
  • Silver: one more layer added including certification and sanction check, create a more trust to Buyer.
  • Gold: besides points checked as above, higher level of supplier qualification to be checked, it’s Due diligence and Financial risk audit.

NextPro SICP adds another layer of trust for a supplier to display to its audience on its NextPro profile.

How should NextPro SICP impact my business buying decisions?

When looking for a supplier, use our SICP information to supplement Buyer research and to see if a supplier on NextPro is registered, active, and trustworthy.

Please note, as a potential buyer, we advise you to use your judgment and research when making buying decisions. We do not endorse any supplier, including verified suppliers, on our platform.

What sources does NextPro use to find relevant business information?

Data is collected from different sources based on the location of each company in question.

Why should suppliers invest in NextPro SICP?

NextPro SICP adds another layer of trust for a supplier to display to its buyer on its NextPro profile. Potential Buyers can confirm that a business is active and has no derogatory credit marks. We hope that the more information a potential buyer can find about a business on NextPro platform, the more willing they will contact for the business.

What steps can Supplier take to be verified by NextPro?

Purchase a SICP to be eligible.

Is SICP level the same as sponsorship level?

No. SICP level is independent of sponsorship package level. For example, ‘Sponsor’ sponsorship does not guarantee a “Gold” SICP status.

What’s the cost of NextPro SICP?

SICP is a supplemental piece of NextPro’s Supplier Profile. Different SICP level different cost, please become our supplier and you will see the cost there.

What's threshold I should start to do an e-auction?

It’s depend on your decision, if you would like to get more competitive rate, new market, in high risk country… then you should start from 25,000 EUR.

How many kind of e-auction type that is provided by NextPro?

We introduce 6 auction types, including: English Reverse (Price), Sealed bid, Dynamic Reverse (Ranking), Traffic light, Japanese Reverse and Dutch Forward.

What is meaning behind of each kind of e-auction?

Type Traffic Light:

You will see a color status (green, yellow, red) after submitting own bid. Traffic light colors are based    on previously defined price ranges which are unknown to the bidders (except starting price) and Bidder must underbid own last bid.

Type English Reverse (Price Auction):

Your bid and the current best bid will be displayed after you have submitted your initial bid in a package. The initial bid may match the starting price provided online or can be anything lower than that. You have to underbid the current best bid if you wish to submit more than 1 bid per package.

Type Dynamic Reverse (Ranking Auction):

Your bid and your current ranking will be displayed after you have submitted your initial bid in a package. The initial bid may match the starting price provided online or can be anything lower than that. You have to underbid your last bid if you wish to submit more than 1 bid per package.

Type Japanese Reverse:

The current price shown must be confirmed in order to qualify for the next price level. The Auction will end with the pre-defined end price or if only 1 bidder is left.

Type Dutch Forward:

The Auction will end with the confirmation of a price shown by the first person to confirm this price.

Type Sealed Bid:

Only the best bidders (number and position of bidders will be determined by the buyer after the 1st phase) per package/position will qualify for a Sealed Bid. The buyer is asking each bidder selected to participate in the Sealed Bid to place 1 (one) final bid during the Sealed Bid. All competitor information will be shut down and are only visible to Buyer. If no bid is submitted during the Sealed Bid, then the lowest bid from the 1st phase will be taken into consideration. In general, only the best bid of each bidder at the end of both phases will be taken into consideration.

I have limited e-auction experience, how should I start an action type for my different projects?

We provide an overview of e-auction results (average saving result and type of auction) which are the same your project’s category for your reference.

Can Buyer/Supplier have a demo for an e-auction practice before live?

  • NextPro has developed a set of video tutorials on how to use the NextPro platform at www.auction.nextpro.io which requires you to have a NextPro account to log in and view in the “User Guide” tab.
  • You can also ask NextPro to help you initiate an online bidding session to practice in a test environment before the official online bidding takes place.

What is Buyer profile?

We provide 2 kind of Buyer profiles:

  • “Unsecure” level: you can do a market research on NextPro marketplace without e-auction ticket creation and very limited right of RFQ cancellation. Once buyer reach this threshold, the system will block this right RFQ creation.
  • “Secure” level: another three level of buyer profiles provided: Flyer/Crew/Captain, higher level higher number of e-auction event per year can be established/created in NextPro.

What is my Buyer Dashboard?

The Buyer Dashboard is your homepage for managing your profile and reviews on NextPro. On the dashboard, you will see the basic information presented on your profile, the status of your previously submitted references, newly added reviews, and stats on profile views and click-throughs from buyers.

Check your dashboard regularly to see updates to your profile and your visibility on NextPro

All RFQ list and E-auction ticket shall be presented with details status.

What's threshold I should start to do an e-auction?

It’s depend on your decision, if you would like to get more competitive bid rate, new market, in high risk country… then you should start a value from 25,000 EUR.

How many kind of e-auction type that is provided by NextPro?

We introduce 6 auction types, including: English Reverse (Price), Sealed bid, Dynamic Reverse (Ranking), Traffic light, Japanese Reverse and Dutch Forward.

I have limited e-auction experience, how should I start an action type for my different projects?

We provide an overview of e-auction results (average saving result and type of auction) which are the same your project’s category for your reference.

Do I pay for e-auction service fee?

No cost occur, but Buyer should upgrade your profile from “Unsecure” level to higher level such as “Flyer/Crew/Captain”, from that you’re able to create e-auction from NextPro platform and different level different cost with certain right.

What does Supplier profile mean?

We provide 3 levels of supplier profile as follow:

Basis: supplier can register their profile without any cost, less priority to receive a RFQ than other, they will receive the RFQ in next 24 hours after released RFQ which is the same with supplier’s core business. In order to receive RFQ immediately, supplier should upgrade their profile to higher level (Premium, Sponsor).

Premium: supplier can receive the RFQ in next 12 hours after released RFQ which is the same category with supplier’s core business and minimum order value that expected by supplier, beside that they’re allow to upload max 5 products/services into flash sale area.

Sponsor: supplier can receive the RFQ immediately right after released RFQ which the same category with supplier’s core business and minimum order value that expected by supplier, beside that they’re able to upload max 10 products/services into flash sale area.

How can NextPro help me find a best-fit supplier?

NextPro uses an information in supplier profile who are matching with their core business focus and minimum order value target setting.

We refer suppliers that are either best-fit, secured, or currently enrolled in our sponsored or premium service-offerings.

How should NextPro's SICP impact my buying decision?

When looking for a supplier, use our SICP information to supplement your research and to see if a supplier on NextPro is registered, active, and trustworthy.

Please note, as a potential buyer, we advise you to use your judgment and research when making hiring decisions. We do not endorse any supplier, including secured suppliers, on our platform.

Do I need to sign any binding contract with NextPro when I want to bid on the platform?

When buyers have auction needs in the near future and want to perform on the NextPro platform. NextPro’s legal consulting team will work directly with the buyer to sign a framework agreement that consents the necessary terms.

The signing of this contract aims to clarify responsibilities and rights between the buyer and NextPro.

When there is a need to organize auction, what should I do?

When a buyer is ready to open auction event, below are the steps you should take:

  • Contact NextPro via hotline: +1900 633 375 or email address: info@nextpro.io to provide your auction request information.
  • Fill the auction setup form sent from NextPro.
  • E-mail to suppliers will be invited to participate in auction to introduce the use of NextPro platform.
  • Providing contact information about suppliers who will be invited to bid on NextPro platform. Then NextPro will instruct how Suppliers can create their accounts on NextPro platform by themselves.

After that NextPro will start auction, buyers and suppliers will log in with the account provided to track and participate in auction.

How can I learn about using NextPro's auction platform?

When you have demands and questions about the use of auction platform, there will be the following ways:

  • Contact NextPro via hotline: +1900 633 375 or email address: info@nextpro.io for advice on your questions.
  • Access the website address: www.nextpro.io and click on “Contact” to fill your questions.
  • NextPro has built a set of video tutorials on how to use the NextPro platform at www.auction.nextpro.io which requires you to have NextPro account to log in and watch in the “User Guide” tab.

If the supplier I propose to bid on NextPro disagrees with the terms and charges of NextPro service offered to them, what is the solution?

When the buyer needs to organize an auction with the proposed suppliers from the buyer, however, the supplier cannot reach the necessary agreements required by NextPro such as:

  • Disagree or late payment for NextPro service charges
  • Disagreeing to sign part or the whole of the contract
  • Other reasons for not accepting to sign and participate in auction on NextPro platform

In the above cases, NextPro has the fully right to not invite the corresponding supplier to participate in the auction and will actively contact the buyer to provide necessary solutions:

  • If more than 2 (two) suppliers agree to sign and pay the charge, the auction session will still take place normally.
  • If only 1 (one) supplier agrees to sign and pay the charge, the auction will have to change the auction method or be canceled at the buyer’s decision. The cancellation of this auction occurs before the auction takes place so no penalties will be applied as in sentence 16 hereof.

What joint responsibilities do I have to have when my proposed supplier does not participate in the auction?

The buyer will not be responsible in case the proposed supplier from the buyer does not participate in the auction. However, the NextPro side will proactively contact the buyer to find the most suitable solution in these cases.

Do I receive a report on the result after the auction ends?

After the auction session ends, the buyer will receive a report of the auction session from NextPro.

Do I have to pay any charge to cancel the auction results?

In case you want to cancel the auction for any reason, NextPro will stop providing services for your account and the buyer will pay a penalty equal to the previous deposit of the supplier paid to NextPro (called as a) before the auction, plus 1-month deposit interest rate (applied to enterprises) of Joint Stock Commercial Bank for Foreign Trade of Vietnam (VIETCOMBANK) in Ho Chi Minh from the time of issuance the deposit payment of the supplier until the time of cancellation of the buyer, this interest rate amount (called as b) is calculated on the basis of the mentioned deposit a. In case there are many participating suppliers, it will be calculated according to the highest deposit.

After auction ends, how long do I have to make a decision to select a supplier?

Within 30 days after the end of the auction session, the buyer must send an email to notify the winning supplier to:

  • E-mail address of the successful Supplier
  • Email address of NextPro: info@nextpro.io

Following the email form provided earlier from NextPro. From the 31st to the 37th day, NextPro will send 03 (three) times a reminder letter for the announcement of awarding from the buyer, after the 37th day if NextPro has not yet received the letter of announcement of awarding, NextPro will understand that the buyer has canceled the auction result.

Can I introduce a new supplier (who is not registered on the NextPro platform) into my auction event?

In the event that a Buyer introduces a Supplier to a bid on the NextPro platform, NextPro will allow account registration for the Supplier for the purpose of the Buyer’s bidding organization. In order to create an account for the Supplier, the Supplier enters the NextPro platform at the website www.auction.nextpro.io, select “Become a Supplier” and fill in all required information together with the following documents must be attached:

  • Supplier registration form from NextPro
  • Valid business license
  • Proof of bank account
  • Tax form

What is supplier profile?

We provide 3 levels of supplier profile as follow:

Basis: supplier can register their profile without any cost, less priority to receive a RFQ than other, they will receive the RFQ in next 12 hours after released RFQ which is the same with supplier’s core business. In order to receive RFQ immediately, supplier should upgrade their profile to higher level (Premium, Sponsor).

Premium: supplier can receive the RFQ in next 6 hours after released RFQ which is the same category with supplier’s core business and minimum order value that expected by supplier, beside that they’re allow to upload max 5 products/services into flash sale area.

Sponsor: supplier can receive the RFQ immediately right after Buyer released RFQ which the same category with supplier’s core business and minimum order value that expected by supplier, beside that they’re able to upload max 10 products/services into flash sale area.

What is NextPro's SICP (Supplier Integrity Check Program)?

Once a supplier register a Bronze or Silver or Gold SICP member, NextPro Specialist collects business registration information to confirm their legal entity is registered and active. Registration is confirmed through a web site of Business Registration Department of each country of supplier and a supplemental legal certificate from the supplier.

Information we verify includes the following:

  • Business entity name
  • Status (active/inactive)
  • Jurisdiction of formation
  • ID number
  • Date of business formation

Besides, depend on SICP profile to be bought by Supplier, there will be more checks to assure for supplier credit including: Bank Account, Sanction Check, Certificate Management, Due Diligence and Financial Risks.

What are different between Supplier profile and SICP?

No. SICP level is independent of profile level. For example, ‘Sponsor’ in supplier profile does not guarantee a “Gold” SICP status.

What makes a Supplier ineligible for NextPro's SICP?

A supplier is ineligible for NextPro’s SICP if it:

  1. Has filed for bankruptcy
  2. Has an inactive business registration status
  3. Has significant negative marks on a credit report
  4. Has not met the requirements of an open-source background check
  5. Have fraudulent reviews submitted

How can my company advertise on NextPro platform?

NextPro is a free platform, but we offer a premium offerings that allow your company to advertise on NextPro platform:

  • Premium: introduce 5 items to be promoted.
  • Sponsor: introduce 10 items to be promoted.

What is my Supplier Dashboard?

The Supplier Dashboard is your homepage for managing your profile and reviews on NextPro. On the dashboard, you will see the basic information presented on your profile, the status of your previously submitted references, newly added reviews, and stats on profile views and click-throughs from buyers.

Check your dashboard regularly to see updates to your profile and your visibility on NextPro.

All RFQ list and E-auction ticket shall be presented with details status.

What information do I need to provide to create an account on NextPro platform?

In order to create an account for the Supplier, the Supplier enters the NextPro platform at the website www.auction.nextpro.io, select “Become a Supplier” and fill in all required information, together with the following documents must be attached:

  • Supplier registration form from NextPro
  • Valid business license
  • Proof of bank account
  • Tax form

Do I have to pay any charge when being invited to participate in auction on NextPro platform?

When the supplier appointed by the buyer to participate in the auction on the NextPro platform, NextPro will actively contact the supplier to create an account on NextPro (only in case the supplier does not have an account), NextPro’s legal consulting team will contact the supplier to sign the contract to agree on the strict legal provisions as well as the charge of the supplier.

The supplier will have to pay 2 (two) charges as follows:

  1. Service charge using the platform is 1,100,000 VND (VAT included) for each auction.
  2. The guaranteed deposit charge before auction, this charge will be calculated according to the following formula:

Guaranteed deposit charge =% of deposit x value of project before auction

Inside:

% deposit: The percentage of deposit as determined by NextPro will be discussed when performing the contract with the supplier.

Value of project before auction: this is the latest price quoted by the supplier invited for the project before auction, this price is provided by the buyer when requesting NextPro to create an auction session and will be specified in the contract with the supplier.

 

The charge (a) above will be the platform usage charge and will not be refunded under any circumstances.

The charge (b) above will be the deposit charge to ensure serious participation from the supplier. This charge will be applied as follows:

 

(b1) In the event that the supplier is notified of the winning auction from the email sent from the buyer, this email address is clearly stated in the contract with the supplier. The supplier will bear the following charges:

Service charge after winning the auction =% of deposit x value of project after auction

Inside:

% deposit: The percentage of deposit as determined by NextPro was signed in the previous contract with the supplier.

Value of project after auction: this is the final price quoted by the supplier after the end of the auction session on the NextPro platform. This value is officially recognized by the buyer when sending an email the notice of winning to the supplier.

(b2) In the event the supplier is notified not to win auction from the email sent from the buyer, this email address is specified in the contract with the supplier. NextPro will reimburse the entire guaranteed deposit charge previously specified in the contract after receiving an official refund request from the supplier.

Have I been informed of the use of the NextPro platform for participating in auction?

When a buyer wishes to organize an auction session on the NextPro platform, the buyer will request NextPro to initiate the auction and will notify the invited suppliers about the use of the NextPro platform for auction.

After signing the contract, when do I have to pay the charges to NextPro?

Within 05 (five) days from the date of signing the contract, the supplier must pay all charges mentioned in the contract. If the supplier does not pay or pay later than this time, NextPro has the right to not invite the supplier to bid.

How can I learn about using NextPro's auction platform?

When you have demands and questions about the use of auction platform, there will be the following ways:

  • Contact NextPro via hotline: +1900 633 375 or email address: info@nextpro.io for advice on your questions.
  • Access the website address: www.nextpro.io and click on “Contact” to fill your questions.
  • NextPro has built a set of video tutorials on how to use the NextPro platform at www.auction.nextpro.io which requires you to have NextPro account to log in and watch in the “User Guide” tab.